US-Based Welding Tech Company ESAB to Buy Eddyfi for $1.45 Billion USD
•February 3, 2026
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Why It Matters
The transaction gives ESAB immediate entry into high‑growth NDT markets, diversifying its product portfolio and strengthening its global industrial footprint. It also secures a major technology player in Quebec, preserving jobs and regional innovation capacity.
Key Takeaways
- •ESAB pays $1.45 billion for Eddyfi.
- •Deal adds $270 million revenue to ESAB by 2026.
- •Eddyfi retains Quebec City headquarters and workforce.
- •Acquisition expands ESAB into aerospace, energy, defense markets.
- •Funding includes cash, debt, and $318 million equity.
Pulse Analysis
ESAB’s move to acquire Eddyfi marks a strategic pivot from its traditional welding equipment base toward the broader non‑destructive testing (NDT) arena. By integrating Eddyfi’s ultrasonic and robotic inspection solutions, ESAB can offer a unified portfolio that addresses both fabrication and integrity verification, appealing to customers seeking end‑to‑end asset management. The financing blend of cash reserves, debt facilities, and a sizable equity infusion underscores ESAB’s confidence in the long‑term cash flow potential of Eddyfi’s $270 million revenue stream.
Eddyfi brings a mature, globally recognized NDT platform that serves over 110 countries and high‑profile clients such as Shell, GE and the London Underground. Its technology, ranging from handheld ultrasonic probes to pipe‑inspection drones, enables critical infrastructure operators to detect defects without costly shutdowns. Maintaining Eddyfi’s Quebec City headquarters and existing leadership ensures continuity of product roadmaps and preserves the specialized talent pool that has driven its innovation since 2009. This continuity is crucial for ESAB as it seeks to cross‑sell its welding solutions to Eddyfi’s aerospace, energy and mining customers.
For the industry, the deal signals accelerating consolidation among equipment manufacturers aiming to provide comprehensive lifecycle solutions. ESAB’s expanded addressable market now spans billions of dollars in aerospace, defense, nuclear and civil infrastructure sectors, positioning it to capture growth as regulatory pressures increase demand for advanced inspection technologies. Moreover, the commitment to keep Eddyfi’s workforce in Quebec supports regional economic stability and reinforces Canada’s reputation as a hub for high‑tech industrial innovation. The integration is expected to deliver synergies that boost EBITDA margins while accelerating product development across both companies.
US-based welding tech company ESAB to buy Eddyfi for $1.45 billion USD
Québec City-based non-destructive testing (NDT) inspection tech provider Eddyfi is staying put under new ownership.
The deal values Eddyfi slightly more than the market cap of Lightspeed Commerce, and marks one of the few recent billion-dollar deals in the province.
Maryland-based welding equipment maker ESAB agreed to purchase Eddyfi for $1.45 billion USD ($2 billion CAD) on Monday. The price tag values Eddyfi slightly more than the market cap of Montréal’s Lightspeed Commerce, and marks one of the few billion-dollar deals in the province since Nuvei sold for $6.3 billion USD in 2024. As part of the deal, ESAB has made “firm commitments” to maintain Eddyfi’s workforce and head office in Québec City.
“ESAB brings the scale, resources and long-term commitment needed to support our people, strengthen our impact with customers and honour the legacy we have built,” Eddyfi founder and chairman Martin Thériault said in a statement. “It is the beginning of a new chapter defined by growth, pride, renewed momentum, and continued expansion from here in Quebec City.”
Founded in 2009, Eddyfi provides non-destructive testing (NDT) inspection technology to large engineering firms and service providers in the aerospace, energy, mining, power generation, and transportation sectors. Eddyfi says it has more than 1,000 employees and serves customers in more than 110 countries, including oil giants like Shell, American multinational General Electric, and even the London Underground. Eddyfi is backed by Québec pension manager La Caisse and Montréal-based private equity firm Novacap.
Eddyfi’s portfolio of NDT tech, which it’s built up over years of buying up other companies, helps companies detect issues with their infrastructure (like a plane or a pipeline) with minimal need to take pieces apart for manual inspection. The naked eye might not be able to see the crack forming in an oil pipeline, but an engineer could attach Eddyfi’s Sonyks ultrasonic testing device to it to test the material’s integrity with a sound wave, or even send one of its drones down the pipe to take a look inside.
Eddyfi is expected to generate approximately $270 million USD in revenue and $80 million of adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for ESAB in 2026. ESAB expects to fund the acquisition with a combination of cash on hand, debt, and $318 million of fully committed equity.
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The sale follows the parent company, Previan, splitting into two companies last June: Eddyfi and NDT Global. Following the split, NDT Global was refinanced. As Eddyfi was considering doing the same, the value of the ESAB offer “made the difference” to a complete sale, Eddyfi said in a statement.
Eddyfi said it will continue to operate with its current leadership teams, product roadmaps, and commercial commitments after the transaction closes, which is expected in the second quarter of this year.
ESAB president and CEO Shyam P. Kambeyanda said in a statement that the acquisition expands the company’s total addressable market by billions of dollars and strengthens its exposure to the aerospace, defense, nuclear, energy, and civil infrastructure markets.
Feature image courtesy Eddyfi.
The post US-based welding tech company ESAB to buy Eddyfi for $1.45 billion USD first appeared on BetaKit.
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